The billionaire co-founder and managing partner of private equity firm Thoma Bravo said that he is an investor in Bitcoin and that crypto is a great system during an interview at CNBC's Delivering Alpha conference.
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“How could you not love crypto? Look at the movement. Aren't we all tired of paying all those transaction fees and exchange rates and seeing currencies in different countries be completely devalued? And watching our friends in Argentina carrying calculators around to try to purchase based on inflation rates."
Bravo continued by saying that crypto is frictionless and decentralized and that young people want their own financial system.
"Crypto is just a great system. It’s frictionless. It’s decentralized. And young people want their own financial system. So it is here to stay," said Bravo.
He added that Bitcoin's underlying blockchain technology can be very powerful and that it may be better than data-based software.
“The underlying technology of blockchain, regardless of what protocol or what system you are building upon, can be very powerful and sometimes provides better use cases than data-based software."
His private equity firm, Thoma Bravo, was recently part of the Series B fundraise for FTX Trading. Bravo also said that he is personally invested in Bitcoin.
“For me, it’s pretty simple. More people are going to use it in the future than today, and it’s going to be more established. Institutions are just beginning to go there, and once that happens, I think it will increase significantly over the years. I’m very bullish,” Bravo said.